News Broadcasting
IL&FS sells 4 million IBN18 shares for Rs 410 million
MUMBAI: IL&FS Private Equity Trust has sold four million shares of IBN18, a Network18 Group company, for Rs 410 million.
IL&FS offloaded the IBN18 shares in the open market at Rs 100.25 per share. IBN18 houses news channels CNN IBN, IBN7 and IBN Lokmat.
IL&FS sold to Talma Chemical Industries and Indea Long Term Opportunities Master Fund in two bulk deals. There were other buyers as well which did not get reflected in bulk deals.
Talma Chemical Industries purchased 1.7 million IBN18 shares, paying out around Rs 170.42 million. Indea Long Term Opportunities Mssaster Fund, on the other hand, picked up 1 million shares for around Rs 100.25 million.
Shares of IBN18 closed Tuesday at Rs 114.95 on the BSE, up 14.95 per cent over the previous close.
News Broadcasting
BBC to cut up to 2,000 jobs in biggest overhaul in 15 years
Cost pressures and leadership change drive major workforce reduction plan
LONDON: BBC has unveiled plans to cut up to 2,000 jobs, roughly 10 per cent of its global workforce, in what marks its biggest downsizing in 15 years.
The announcement was made during an all-staff meeting led by interim director-general Rhodri Talfan Davies, as the broadcaster moves to tackle mounting financial pressures and reshape its operations.
Between 1,800 and 2,000 roles are expected to be eliminated from a workforce of around 21,500. The cuts form part of a broader plan to save £500 million over the next two years, aimed at offsetting rising costs, stagnating licence fee income and weaker commercial revenues.
In a communication to staff, BBC interim director-general Rhodri Talfan Davies said, “I know this creates real uncertainty, but we wanted to be open about the challenge,” acknowledging the impact the move would have across the organisation.
The restructuring comes at a time of leadership transition. Former director-general Tim Davie stepped down earlier this month, with Matt Brittin, a former Google executive, set to take over the role on May 18, 2026.
While some cost-cutting measures are being implemented immediately, the majority of the structural changes are expected to roll out over the next few years, with full savings targeted by the 2027–2028 financial year.
The broadcaster had earlier signalled its intent to reduce its cost base by around 10 per cent over a three-year period, warning of “difficult choices” as it adapts to shifting economic realities and audience expectations.
With operating costs hovering around £6 billion annually, the BBC’s latest move underscores the scale of the financial challenge it faces, as it balances public service commitments with the need for long-term sustainability in an increasingly competitive media landscape.
